American Express offers Gift Cards for Credit Cards

American Express Inc., the US’s largest credit card company, is starting to ask some customers to leave their cards at home. 

The incentive?  AmEx will offer $300 gift cards in exchange.

To participate in the deal, select customers must pay off their American Express balances before April 30th, thereby canceling their accounts.  The customers then receive a $300 gift card useable anywhere American Express is accepted.

American Express is offering this deal to a small group of customers who have high account balances and low activity as an incentive to ‘lower their debt with responsible management,’ said Molly Faust, American Express spokeswoman.

Customers should know, though, that enrolling in the program cancels all rewards points and they should be used before the debt is fully paid off.

This is one company’s unique approach to customer service in a struggling economy.  Perhaps gift cards will be used more in the future as an incentive towards responsible debt management.